Overseas Trading: China Stocks Pace Asia Pullback

Stocks on the Chinese mainland ended sharply lower, led by a sell-off in B shares

Dec 28, 2015 at 8:21 AM

Asian stocks settled mostly lower today, led by a 2.6% slide for China's Shanghai Composite -- its biggest percentage drop in over a month. Mainland equities were hurt by profit-taking in B shares, tighter forex controls, and a sixth consecutive downturn in industrial profits. Meanwhile, traders in Tokyo shrugged off disappointing data on factory output and retail sales. By the close, South Korea's Kospi lost 1.3%, Hong Kong's Hang Seng fell 1%, and Japan's Nikkei ended 0.6% higher.

European markets are trading lower at midday, tracking weakness in oil prices amid a low-volume session. At last check, France's CAC 40 is off 0.8%, and Germany's DAX has shed 0.6%. U.K. markets remain shuttered for holiday.

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